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Common Myths And Facts About Critical Illness Health Insurance Plans In India

Published On Apr 16, 2021, Updated On May 13, 2021

Many people have misconceptions about serious illness insurance. This is because they fail to read the fine print of their proposal and make incorrect conclusions as a result. It is important to read the fine print because it will help you understand what is and is not protected by the plan. Myths and assumptions will lead to your claim being denied.

 Common Myths And Facts About Critical Illness Health Insurance Plans In India

Common Myths And Facts About Critical Illness Plans In India

For your convenience, we've debunked eight of the most common myths.

  • Myth: Critical Illness Policy Includes Disability Benefits

    The aim of disability insurance is to compensate for the loss of income caused by a disability. Severe illness insurance, on the other hand, provides a lump sum payout if the insured is diagnosed with a critical illness such as cancer or an immunological disorder. The benefit is that the insured has complete control of how the money is spent. An insured person may pay for his or her medication and use a portion of the money to provide for his or her family.
  • Myth: When I Purchase A Critical Illness Package, I Automatically Receive Coverage For Any Critical Illness

    It's important to understand that a critical illness contract only covers the illnesses mentioned in the insurance policy's fine print. As a result, you must be cautious when reading the plan's fine print.
  • Myth: If I'm Diagnosed With A Protected Serious Condition, I'll Get My Claim Money Right Away

    There is a precise description for each essential disease. If your condition does not meet the criteria, your application will be denied. It's important to be conscious of such particulars.
  • Myth: Because Of My Slim Chances Of Survival, I'll Need To Purchase Life Insurance After Purchasing A Serious Illness Package

    If you are diagnosed with cancer, you will have a life expectancy of more than 5 years. More than 90% of people who have a heart attack survive and recover. Most definitely, you would not need life insurance if you purchase appropriate insurance coverage.
  • Myth: If My Critical Illness Policy Includes Cancer, It Includes All Forms Of Cancer

    This isn't always the case. You should understand the scope of your essential insurance plan's coverage. Each form of cancer is distinct and can necessitate different insurance coverage. This is why insurance premiums differ from one policy to the next.
  • Myth: If I'm Diagnosed With A Life-Threatening Illness, I'll Get The Money Right Away

    Carefully read the insurance policy. The pace at which you receive a settlement after making a claim is determined by the insurance company you choose. The insurer's Claim Settlement Ratio should also be considered before purchasing the policy.


Health Insurance for critical illnesses is not necessarily expensive. A critical illness insurance policy is recommended if there is a family history of critical illness. Conduct detailed research and evaluate different proposals based on your expectations. Examine the policy's terms and conditions in great detail. Clear your questions and purchase the package that meets your needs in the best manner.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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